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Horizon Petroleum ( (TSE:HPL) ) has provided an announcement.
Horizon Petroleum Ltd. has closed a second tranche of its secured convertible debenture unit offering, raising $100,000 from a single investor through 100 units priced at $1,000 each, bearing 15% interest and maturing 24 months from closing. The debentures are second-lien to a prior $720,000 issue, are convertible into common shares and warrants at set prices, and triggered finder’s fees of $7,000 in cash and 70,000 warrants; proceeds are earmarked for general corporate purposes, with all securities subject to a standard hold period and the financing classified as a loan with bonus warrants pending final TSX Venture Exchange approval.
More about Horizon Petroleum
Calgary-based Horizon Petroleum Ltd. is focused on the appraisal and development of conventional onshore oil and natural gas resources in Europe, led by a management team and board with significant international oil and gas experience.
Average Trading Volume: 115,492
Technical Sentiment Signal: Sell
Current Market Cap: C$4.66M
For detailed information about HPL stock, go to TipRanks’ Stock Analysis page.